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Chipotle 4008 Mechanicsville Tpke 2,325 SF Retail Building Richmond, VA 23223 $4,854,380 CAD ($2,087.91 CAD/SF) 4.75% Cap Rate
INVESTMENT HIGHLIGHTS
- PART OF MAJOR MIXED USE DEVELOPMENT - THE HORIZON AT SPRINGDALE
- RICHMOND MSA
- STRATEGIC INFRASTRUCTURE, LOGISTICS & CONNECTIVITY HUB
EXECUTIVE SUMMARY
STRONG LEASE FUNDAMENTALS
- 15 Year NNN Lease with zero landlord responsibilities
- Four (4) five (5) year extensions remaining
- 10% Increases every 5 years in base rent and extension periods
CORPORATE GUARANTY FROM INVESTMENT GRADE TENANT
- Chipotle has a Market Cap of $82B (NYSE: CMG) with over 3,750+ locations across the country
- Chipotle opened 304 new restaurants in 2024 with 257 of those locations utilizing a Chipotlane
PART OF MAJOR MIXED USE DEVELOPMENT - THE HORIZON AT SPRINGDALE
- Positioned as an outparcel to Horizon at Springdale - a 305 apartment community
- Over 852 apartments are located in a 1-mile radius
- Nearly 500 new units delivered in the past 3 years
STRATEGIC INFRASTRUCTURE, LOGISTICS & CONNECTIVITY HUB
- Richmond regionally benefits from proximity to Port of Verginia which is the fastest growing container port on the east coast handling 3.7+ million standard containers annually
- The area is serviced by I-95, I-64 and I-295 enabling same day truck access to DC, Raleigh, Baltimore and Hampton Roads
RECENT BUILD-TO-SUIT ON BUSY CORRIDOR
- The Building has recently been built to suit the tenant’s specifications
- Multiple spaces put in for curbside pickup
- Positioned off of busy Mechanicsville Turnpike (31K VPD)
RICHMOND MSA
- 1.3M+ population in the MSA reflecting a 9% population growth since 2010
- 700,000+ regional jobs anchored by a diversified employment base
- Major employers include Capital One, VCU Health, Dominion Energy & Amazon collectively supporting 100,000+ employees
- Median Household Income is approx. $78,000
- 15 Year NNN Lease with zero landlord responsibilities
- Four (4) five (5) year extensions remaining
- 10% Increases every 5 years in base rent and extension periods
CORPORATE GUARANTY FROM INVESTMENT GRADE TENANT
- Chipotle has a Market Cap of $82B (NYSE: CMG) with over 3,750+ locations across the country
- Chipotle opened 304 new restaurants in 2024 with 257 of those locations utilizing a Chipotlane
PART OF MAJOR MIXED USE DEVELOPMENT - THE HORIZON AT SPRINGDALE
- Positioned as an outparcel to Horizon at Springdale - a 305 apartment community
- Over 852 apartments are located in a 1-mile radius
- Nearly 500 new units delivered in the past 3 years
STRATEGIC INFRASTRUCTURE, LOGISTICS & CONNECTIVITY HUB
- Richmond regionally benefits from proximity to Port of Verginia which is the fastest growing container port on the east coast handling 3.7+ million standard containers annually
- The area is serviced by I-95, I-64 and I-295 enabling same day truck access to DC, Raleigh, Baltimore and Hampton Roads
RECENT BUILD-TO-SUIT ON BUSY CORRIDOR
- The Building has recently been built to suit the tenant’s specifications
- Multiple spaces put in for curbside pickup
- Positioned off of busy Mechanicsville Turnpike (31K VPD)
RICHMOND MSA
- 1.3M+ population in the MSA reflecting a 9% population growth since 2010
- 700,000+ regional jobs anchored by a diversified employment base
- Major employers include Capital One, VCU Health, Dominion Energy & Amazon collectively supporting 100,000+ employees
- Median Household Income is approx. $78,000
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,325 SF
Building Class
B
Year Built
2026
Construction Status
Under Construction
Price
$4,854,380 CAD
Price Per SF
$2,087.91 CAD
Cap Rate
4.75%
NOI
$230,566 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
1.08 AC
Zoning
UMUC
Frontage
259’ on Mechanicsville Turnpike
AMENITIES
- Air Conditioning
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- Chipotle
- Accommodation and Food Services
- 2,325 SF
- -
- Feb 2041
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| Chipotle | Accommodation and Food Services | 2,325 SF | - | Feb 2041 |
NEARBY MAJOR RETAILERS
CONTACTS
-
David Hoppe -
Ben Olmstead -
Ben McCarter -
Connor Kuchman -
Atlantic Capital Partners
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Chipotle | 4008 Mechanicsville Tpke
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